For ENR's Top 225 International Contractors, 2001 was a down year. International revenue for the Top 225 fell 8.1% to $106.5 billion from $115.9 billion in 2000 and 11.5% from 1999's high of $118.7 billion. Part of this drop-off can be explained by the absence of German giant Philipp Holzmann AG, which now is in bankruptcy, and Dutch giant HBG, which is in the process of being acquired by Royal BAM NBM nv, Bunnik, The Netherlands. These two firms ranked eighth and ninth on last year's Top 225, accounting for $7.14 billion in international revenue. Not counting Holzmann and HBG, international revenue for ENR's Top 225 fell only 2.1%.
While some markets were down in the wake of Sept. 11, many large firms report the economic impact on international construction was much less than feared. Bechtel is one such firm. "We didn't have any projects canceled [but] some of the projects slowed down," says Lee McIntire, London-based executive vice president in charge of global civil engineering. While the telecommunications sector remains uncertain, railroad infrastructure has grown in importance, especially in North America and Europe, he says.